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New Enterprise Associates CERTIFIED

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FIRM OVERVIEW: Large Private VC founded in 1977 based out of Menlo Park, USA (US West)

FIRM DESCRIPTION: New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs create and build major new enterprises that use technology to improve the way we live, work and play. Since its founding in 1978, the firm has followed the same core principles: supporting its entrepreneurs, providing an excellent return to its limited partners, and practicing its profession with the highest standards and respect. Through its affiliated funds, NEA focuses on investments at all stages of a company’s development, from seed stage through IPO. With approximately $8.5 billion in committed capital, NEA’s experienced management team has invested in over 650 companies, of which more than 160 have gone public and more than 245 have been acquired. NEA has U.S. offices in Chevy Chase, Maryland; Menlo Park, California; and Baltimore, Maryland. In addition, New Enterprise Associates (India) Pvt. Ltd. has an office in Bangalore, India and New Enterprise Associates (Beijing) Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.

There's a post in this thread that's pretty negative on Kittu... I disagree.
I found Kittu to be professional, bright and courteous. He didn't ultimately fund our company, but he was quick to engage, detailed and direct. No BS here and a smart guy to boot. I've seen many arrogant, not so smart VCs and Kittu does NOT fit that mold. He's a straight up guy. I also felt good about our interactions with others at NEA. All that said, he made a mistake by passing on our deal ;-)

Got introduced to NEA through a referral. Got a quick response and sent them a company overview. They reviewed quickly and thought we might be too close to one of their portfolio companies. That's all I could ask for and it looks like others in this forum have had similar interactions.

We pitched a Series B oportunity last year to Pete Sonsini. All I can say is that he is not the brightest tool in the shed. Obviously, the family name had a lot to do with him landing a job at the firm. Based on my interactions with him that is the only logical explanation I can support. He didn't understand our business proposition and didn't ask a relevant question that made any sense.

Posted by
Complication
on 2007-10-02

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Kittu has more of a real world perspective having recently come from the "real world" of managing a company. Also, he has a somewhat ironic sense of humor that may not jibe with all.
As such he may not be for a less confident entrepeneur at a seed level or series A, but is definitely a worthwile addition to a more substantiated company.

We pitched a Series B deal to them a few years ago. Scott Sandell was the partner who spent a lot of time with us. They took our positioning plank and re-positioned one of their messed up recapitalized portfolio companies and positioned it identically in a week - with a lot of our content. Easy to look back today and say we told them too much (we probably did) but this was extremely blatant. Watch what you say - especially to Scott.

Posted by
anulman
on 2010-04-13

PUBLIC:

Met with Sujay (who woefully isn't listed in the Team Members!) and we sat down for a little over an hour. He was friendly, interested, and an absolute breeze to talk with.

He was open and honest about the firm's investments and fund (and with relevant personal questions), both when the information was positive and negative. And he gave me a few comments afterward that will really help my pitch going forward!

Ultimately, I pitched for him 3-4 months before I should have -- NEA want a bit more maturity in their early-stage companies than where YouPhonics is at right now -- but he lost no interest in the company or the pitch as soon as the timing issue became apparent.

Four weeks after our third meeting with them, which four partners attended, they announced an investment in a competitor. Maybe they were in the final decision making process and truly considering us, but seems very unlikely that they turned around a term sheet, closed and got a press release out in four weeks with the other guys. So they probably already had the term sheet out when they met with me and drilled me on my business and deal pipeline. One of the partners who sat through my presentation appeared on the board of the competitive company they funded. Great stuff.

Posted by
NKOTB
on 2007-11-12

Posted by
pigratdog
on 2007-08-25

PUBLIC:

I've pitched to them ideas that they have not funded and ideas that they have funded. Regardless of the outcome - I always got great feedback and was treated with respect and honesty. Peter Barris is truly exceptional - one of the few managing partners with a strong operating track record.

Posted by
fearless
on 2010-08-23

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Went to NEA offices to do the proverbial monkey dance. Their offices can be a little hard to find since they are in somewhat of a sprawling office park - suggest you go early just in case you get lost.

Pitched to Paul Hsiao and he got it immediately. Gave us great feedback, and actually used our service after we left. I've said it before in my review of him personally, but for being a VC - he makes you feel very comfortable as you pitch. They did not invest in us, but having had VCs as board members before, my gut feel is Paul would be a positive experience on a board.

Got introduced to Harry through one of NEA's port. company CEOs. He got our business right away, asked very insightful questions and, even though we weren't a fit for them, he made some great intros for me at other funds. He also gave a very compelling pitch about why we should do business with NEA. Not only was this very refreshing, as many other VCs seem to think they don't need to sell you, or they wait until they have term sheet competitors to do so, whereas Harry did it in our first meeting. Additionally, it was apparent that he really believed in the NEA story and model, and he backed his claims up with data. Overall, I was very impressed.

Posted by
ifsngs
on 2007-09-11

PUBLIC:

Peter is one of the finest venture investors in the industry. He brings a wealth of experience and intellect to every situation and he has a great deal of patience as well! I have had a chance to work with him for many years in more than one startup and have never felt that he is too busy to help or that any problem is too insignificant for him to guide me on.

Posted by
bootstrapper
on 2007-06-23

PUBLIC:

NEA in Menlo just brought in the Tivo big dog as a venture partner. They have operators and are very up-front.

Sometimes if a partner cannot make it for a meeting, he'll find you another so it may be good to double back to the original with your own recap of the meeting. Keep in touch with these guys as you progress and you never know what can come of it.